Lincolnshire hotel with a long history up for sale

Thu, 21 Jul 2016 | COMMERCIAL PROPERTY

The Exchange Coach House Inn, which dates back to 1760, will be going up for auction, with a price sought of £1.5 million for the freehold interest.

The former Lincolnshire coach house is now a 42-bedroom hotel with a bar and restaurant, but was originally used as a home for a “man of substance”, before being used as a ladies' finishing school. It was purchased in about 1895 by a group of wealthy farmers; a small hall was built and was named The Exchange Club. Notable guests at the club included Winston Churchill in his younger days.

The property's present owner, Joseph Mullen, bought it after it had slipped into a derelict state in the 1970s, and renovated it, preserving many of its original plasterwork and fireplace features. He also added 22 en-suite bedrooms, a bar, lounge and licensed cafe.

Christie & Co is managing the sale. Director Mark Worley told the Lincolnshire Echo: “Over the past eight years, the hotel has been operating on minimal opening hours due to the current owner's other business ventures.

"Pre-recession, the business was turning over in excess of £1 million and generating profits of around £500,000. This was achieved with just 22 bedrooms.

"The hotel now stands ready to welcome a new owner to take full advantage of the investment our client, who is retiring, has put into the site."

The grade II building also comes complete with ghost stories of unexplainable footsteps, a headless monk and the apparition of a little girl thought to have fallen from the roof.

Search hotels for sale


Share this article



Latest Businesses for Sale

Designer & Manufacturer of Consumer Entertainment Robotics (Fast Sale)
UK Wide

Expressions of interest for the business and assets are required by 5pm on 24th July 2019 with bids anticipated shortly thereafter. An opportunity exists to acquire the shares or alternatively the business and assets of this UK based, innovative comp...

Asking Price: Offers Invited
Turnover: £5m+

Manufacturer of Precision Instrumentation Products
UK Wide

*Trade Enquiries Only*. A leading UK designer, manufacturer and global distributor of critical components in specified compression fittings with a crucial safety function. Offers invited.

Asking Price: Offers Invited
Turnover: £1,900,000

Manufacturer of Nets
South West, UK

Manufacturer of Nets for everything except fishing. More than 130 years of continuous trading. The Company was founded in 1889 and is a very well established manufacturing business and has been a pioneer in the industry and consistently & successfull...

Asking Price: £450,000
Turnover: £522,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Jul
 

Outdoor activity centre completes MBO | BUSINESS SALE

An outdoor water activity centre has been successfully sold ...

 
18
 
Jul
 
 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
25
 
Apr
 

North East dry cleaning business put up on the market | BUSINESS SALE

Four dry cleaning businesses operating under one name in the...

 
16
 
Apr
 

Northern brewery up for sale | BUSINESS SALE

A brewery located in North Shields has been brought to marke...

 
27
 
Feb
 

Petrol station up for sale | BUSINESS SALE

An MOT garage and petrol filling station in North Wales has ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources